RATE Group | Cryptocurrency Markets Quiet for Now, but Catalysts for Moves Loom
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Cryptocurrency Markets Quiet for Now, but Catalysts for Moves Loom

24 Oct Cryptocurrency Markets Quiet for Now, but Catalysts for Moves Loom

Posted at 21:56h in Cryptocurrency News by

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Cryptocurrency markets have been unusually quiet lately, but some are viewing that as the proverbial calm before the storm.

That’s because the Securities and Exchange Commission — the dominant US regulatory body that oversees securities regulations — is set to soon respond to a request for a new Bitcoin ETF. And that’s on the heels of the SEC establishing its own office to help new cryptocurrency offerings with compliance issues. 

Cryptocurrency trading has been quiet in the back half of October as Bitcoin clocked a four-week high of $6,810 last Monday and now stands at around $6,500.

On the near horizon is the Nov. 5 deadline for the SEC to respond to the most recent request for a Bitcoin ETF (Exchange Traded Fund). Market makers have been trying to create a way for broader markets to participate in Bitcoin, such as through an ETF, for well over a year.

The ETF Merry-Go-Round

In August of this year alone, the SEC rejected nine proposals for a Bitcoin ETF, expressing…

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